Welcome to the QuickBooks Community, @k-handler.

Let me share some insights with regards to handling your inventory in QuickBooks Online (QBO).

Once you set up your first inventory item, QuickBooks will automatically add two accounts to your company file's Chart of Accounts:

• 12100 - Inventory Asset - Other Current Asset
• 50000 - Cost of Goods Sold (COGS) - Cost of Goods Sold

When you buy an inventory item, your expense transaction will debit the Item's Inventory Asset account and credit your A/P, bank, or credit card account. This will not be debited to an expense account because it is an asset that you can sell for future benefit.

On the other hand, inventory COGS is only affected when you sell inventory items on invoices or sales receipts. 

That said, the option to change the item's expense account from COGS to the Inventory Asset account is unavailable. 

For more details, you check out this article: Understand inventory assets and cost of goods sold track.

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!